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National Loans Act 1968

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Changes over time for: Paragraph 8

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No versions valid at: 05/11/1993

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Point in time view as at 05/11/1993. This version of this cross heading contains provisions that are not valid for this point in time. Help about Status

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There are currently no known outstanding effects for the National Loans Act 1968, Paragraph 8. Help about Changes to Legislation

Valid from 15/11/1999

[F18(1)The Treasury shall secure that the position at the end of any given day is such that the total of relevant debts does not exceed the total of relevant deposits.U.K.

(2)A relevant debt is the principal outstanding of any money raised under paragraphs 4 and 5, but excluding money raised from the National Loans Fund.

(3)A relevant deposit is the principal outstanding of any sum standing to the credit of the Debt Management Account in the National Loans Fund or at the Bank of England.

(4)For the purposes of this paragraph a debt or deposit not designated in sterling must be expressed in sterling, and the exchange rate or rates used to calculate the sterling equivalent of debts and deposits must be such as the Treasury consider prudent.]

Textual Amendments

F1Sch. 5A inserted (15.11.1999 subject to arts. 5-7 of S.I. 1999/2908) by 1998 c. 36, s. 160, Sch. 26 para. 1(3); S.I. 1999/2908, arts. 1, 2

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